Whether you're breaking out your dancing shoes or just grabbing a bowl of popcorn, the 2017 Billboard Music Awards have got you covered with a star-studded lineup.

With the awards show just around the corner, nominations and performers have just started being announced, and we couldn't be more excited!

Last month, Pete Wentz of Fall Out Boy and songwriter Julia Michaels appeared on Good Morning America, announcing the nominees for this year's biggest awards, including "Top Artist,""Top 100 Song" and "Top Billboard 200 Album."

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Drake and The Chainsmokers dominated the nominations list, tied with a record-breaking 22 nominations. Given the success of both of Drizzy's albums (Views and More Life) and the fact that "Closer" has been stuck in our heads for months, we're not totally shocked.

That said, Twenty One Pilots and Rihannaaren't far behind, with 17 and 14 nominations, respectively. New to the list is Shawn Mendeswho is earning his first nominations.

But of course, the Billboard Music Awards aren't just about the trophies, but about the music. The first list of performers has just been released, and it's looking pretty incredible.

Last year, the awards show pulled out all the stops, featuring performances from stars likePink, Meghan Trainor, DNCE, Ariana Grande, Justin Bieber, Rihanna, and an epic Britney Spears medley that frankly, we're still not sure we've recovered from.

This year promises to be just as amazing, with Bruno Mars, Drake, Ed Sheeran, Florida Georgia Line, Lorde, and Nicki Minaj already slated to perform. Camila Cabello will also be performing, her second award show appearance since splitting from Fifth Harmony. More A-list artists are sure to be added soon, so stay tuned for more updates.

The 2017 Billboard Music Awards air live on Sunday, May 21 at 8:00 p.m. ET. on ABC from the T-Mobile Arena in Las Vegas.